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HomeBankingBlue Owl Capital snaps up Atalaya Capital Management in $450m deal

Blue Owl Capital snaps up Atalaya Capital Management in $450m deal

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Summary of Blue Owl Capital’s Acquisition of Atalaya Capital Management

  • Acquiring Company:
    • Name: Blue Owl Capital.
    • Location: New York.
    • Assets Under Management (AUM): $174 billion.
  • Acquisition Details:
    • Target Company: Atalaya Capital Management.
    • Acquisition Price: $450 million.
    • Payment Breakdown: $350 million in Blue Owl equity, $100 million in cash.
    • Potential Earnout: Up to $350 million in equity, contingent on future revenue targets.
  • Atalaya Capital Management:
    • Founded: 2006.
    • Founder and Chief Investment Officer: Ivan Zinn.
    • AUM (as of June 2024): Over $10 billion.
    • Investment Focus: Credit investments in consumer and commercial finance, corporate, and real estate assets.
    • Capital Invested: Over $17 billion since inception.
    • Employees: Approximately 115, including over 50 investment professionals.
  • Post-Acquisition Plans:
    • Timeline: Expected to close in H2 2024, subject to customary conditions.
    • Team Integration: Atalaya’s team will join Blue Owl and continue managing existing Atalaya funds.
    • Leadership: Ivan Zinn to become head of alternative credit at Blue Owl, reporting to Craig Packer, Blue Owl’s head of credit and co-president.
  • Statements:
    • Blue Owl’s co-CEOs, Doug Ostrover and Marc Lipschultz: Highlighted the expansion of Blue Owl’s alternative credit offerings and the enhancement of financing solutions for stakeholders through the acquisition of Atalaya.

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